Investors Buy Heico (HEI) on Weakness
Traders purchased shares of Heico Corp (NYSE:HEI) on weakness during trading hours on Monday. $21.59 million flowed into the stock on the tick-up and $13.63 million flowed out of the stock on the tick-down, for a money net flow of $7.96 million into the stock. Of all companies tracked, Heico had the 29th highest net in-flow for the day. Heico traded down ($0.17) for the day and closed at $95.96
Several equities research analysts recently commented on HEI shares. Canaccord Genuity upped their target price on Heico from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Zacks Investment Research lowered Heico from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. BidaskClub lowered Heico from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Jefferies Group restated a “hold” rating and set a $89.00 target price (up previously from $75.00) on shares of Heico in a research report on Thursday, August 24th. Finally, Bank of America upgraded Heico from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $95.00 in a research report on Tuesday, August 29th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $97.56.
The stock has a market cap of $8,104.30, a price-to-earnings ratio of 45.09, a PEG ratio of 4.35 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.89 and a quick ratio of 1.39.
The company also recently declared a semiannual dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a yield of 0.15%. Heico’s payout ratio is currently 7.43%.
In related news, Director Mark H. Hildebrandt acquired 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was purchased at an average cost of $76.13 per share, with a total value of $100,187.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the sale, the vice president now directly owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. raised its stake in shares of Heico by 24.7% in the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares during the last quarter. Ironwood Investment Counsel LLC purchased a new stake in shares of Heico in the third quarter worth approximately $201,000. RKL Wealth Management LLC purchased a new stake in shares of Heico in the third quarter worth approximately $201,000. Comerica Bank purchased a new stake in shares of Heico in the second quarter worth approximately $209,000. Finally, Virtu KCG Holdings LLC raised its stake in shares of Heico by 24.0% in the second quarter. Virtu KCG Holdings LLC now owns 3,302 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 639 shares during the last quarter. 26.93% of the stock is owned by hedge funds and other institutional investors.
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Heico Company Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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